Office

O,R&L Commercial Brokers Sale of 25,777 SF Office Building in Connecticut

by Amy Works November 3, 2015

CHESHIRE, CONN. — O,R&L Commercial LLC has brokered the sale of an office building located at 1154 Highland Ave. in Cheshire. Marshall Enterprises LLC sold the 25,777-square-foot Class A office building to RPG Holdings LLC for an undisclosed price. The new owners plan to convert the first floor of the building into a medical office space for a future urgent care facility. Richard Guralnick of O,R&L represented the seller, while Dan Garofalo and John Mullin of Reno Properties represented the buyer in the transaction.

November 3, 2015

California Office Western

Federal Public Defenders Office Renews Office Lease in Downtown Los Angeles

by Nellie Day November 2, 2015

LOS ANGELES — Federal Public Defenders Office has signed a 10-year lease for 50,130 square feet of office space in the Little Tokyo Historic District of downtown Los Angeles. The space is located at 321 E. 2nd St. The property was built in 1963. GSA represented the tenant. John Anthony, Chris Steck and Chris Giordano of Charles Dunn Co. represented the landlord, 321 E. Little Tokyo Master LLC.

November 2, 2015

Loans Midwest Office Ohio

NorthMarq Arranges $7.2M Acquisition Loan for Kemper Point Office Property in Cincinnati

by Christina Cannon November 2, 2015

CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.

November 2, 2015

Massachusetts Northeast Office Retail

Related Beal Completes Interior Renovations, Adds Six Tenants at Presidents Place in Massachusetts

by Amy Works November 2, 2015

QUINCY, MASS. — Related Beal has completed the interior renovation of Presidents Place, a mixed-use property located at 1250 Hancock St. in Quincy. The renovation program included the modernization of the elevators, common corridors and restrooms; a new lobby and signage; and improvements to the building’s façade and parking garage. In addition to the renovations, Related Beal signed six new tenants to the 350,000-square-foot building: Barnes & Noble Bookstore, Mass Bay Credit Union, The Townshend, Best of Care, Beacon Clinical Research and Jimmy John’s Gourmet Sandwiches. Additional tenants at the property include Quincy College, Harvard Vanguard and Best Doctors. The property is owned and managed by Related Beal in partnership with Boston Andes Capital.

November 2, 2015

Massachusetts Northeast Office

Equus Sells 202,033 SF Office/Retail Property in Boston for $77.5M

by Jaime Lackey October 30, 2015

BOSTON — Equus Capital Partners Ltd., a private equity fund manager, has sold 18 Tremont Street in Boston to an affiliate of DLJ Real Estate Capital Partners for $77.5 million ($384 per square foot). The 12-story, 202,033 square-foot office/retail property was 88 percent leased at the time of sale. Frank Petz and Matt Sherry of Jones Lang LaSalle’s Boston office represented the seller and buyer in the transaction. Equus acquired the property in 2007 on behalf of one of its value-add funds, BPG Investment Partnership VIII and VIIIA LP (a $550 million dollar equity fund), and has since worked to modernize the 100-year-old U-shaped building.

October 30, 2015

Michigan Midwest Office

Friedman Brokers Sale of 14,050 SF Office Property in Farmington Hills, Michigan

by Christina Cannon October 30, 2015

FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 14,050-square-foot office building located at 30375 Northwestern Highway in Farmington Hills, a northwest suburb of Detroit. 30375 Northwestern Highway LLC sold the building to Northwestern Investment Co. for an undisclosed price. Todd Hawley and Rick Kaplan of Friedman represented the seller in the transaction.

October 30, 2015

Office Southeast Virginia

NAI KLNB Brokers $15.3M Sale of Office Building in Northern Virginia

by Jeff Shaw October 30, 2015

FAIRFAX CITY, VA. — NAI KLNB has brokered the $15.3 million sale of Mosby Tower, a six-story, 114,000-square-foot office building located in Fairfax City in northern Virginia. The seller, Premier Suites LLC, recently invested $250,000 to transform the former apartment community into a small office suite complex. The buyer, Korth Investment Properties Group, was self-represented. Christopher Kubler, Brad Berzins and Josh Simon of NAI KLNB represented the seller in the transaction.

October 30, 2015

New York Northeast Office

KKR to Buy 343,000 SF of Office Space at Hudson Yards Tower

by Jaime Lackey October 29, 2015

NEW YORK CITY — KKR & Co. LP, a global investment firm, will purchase approximately 343,000 square feet (the top ten office floors) at 30 Hudson Yards and will relocate its corporate offices to the office tower in 2020. Related Cos. and Oxford Properties Group are developing 30 Hudson Yards. Designed by Bill Pedersen of Kohn Pedersen Fox, the 90-story tower will strive for LEED Gold certification. KKR is the second commercial office tenant to invest in and plan a move to 30 Hudson Yards. In January 2014, Time Warner Inc. acquired approximately 1.5 million square feet of space in the building for its 5,000-plus employees. KKR is the seventh corporate office tenant to announce plans to move to Hudson Yards. Boies, Schiller & Flexner will move its New York City offices to 55 Hudson Yards. Coach Inc. has purchased more than 600,000 square feet of space in 10 Hudson Yards, L’Oréal USA, German software engineering firm SAP and social media-first digital agency VaynerMedia will locate at 10 Hudson Yards when the building opens in early 2016.

October 29, 2015

Michigan Midwest Office

Friedman Brokers Sale of 19,346 Medical Office Building Near Detroit

by Christina Cannon October 29, 2015

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 19,346-square-foot medical office building in Livonia, a northwest Detroit suburb. PAK Real Estate Properties LLC sold the building to Premiere Offices LLC for an undisclosed amount. Premiere Offices is the existing tenant and will continue to use the space as psychiatric offices. Dan Verderbar of Friedman represented the seller in the transaction.

October 29, 2015

Office Southeast Virginia

Federal Capital Partners Acquires One Dulles Tower in Virginia for $84M

by John Nelson October 29, 2015

HERNDON, VA. — Federal Capital Partners (FCP) has purchased One Dulles Tower, a 400,000-square-foot, Class A office building located at 13200 Woodland Park Drive in Herndon, for $84 million. The property is located two miles east of Dulles Airport and a half-mile from both the future Herndon and Innovation Center Silver Line Metro stations. The office tower is fully leased by Booz Allen Hamilton, a business management consultant that will vacate the property before the end of the year. Bill Collins, Paul Collins, James Cassidy, Jud Ryan and Drew Flood of Cushman & Wakefield represented the seller, Corporate Office Properties Trust, in the transaction.

October 29, 2015

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